JPMorgan Chase & Co. Increases Group 1 Automotive (NYSE:GPI) Price Target to $495.00

Group 1 Automotive (NYSE:GPI) had its price target upped by research analysts at JPMorgan Chase & Co. from $420.00 to $495.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.77% from the company’s previous close.

GPI has been the topic of a number of other research reports. Stephens reiterated an “equal weight” rating and issued a $460.00 price objective on shares of Group 1 Automotive in a research note on Thursday, January 30th. Jefferies Financial Group assumed coverage on Group 1 Automotive in a research note on Friday, December 13th. They set a “buy” rating and a $500.00 price objective for the company. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Guggenheim boosted their price target on Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Group 1 Automotive currently has an average rating of “Moderate Buy” and an average target price of $460.33.

Group 1 Automotive Price Performance

NYSE GPI opened at $481.64 on Friday. The stock’s fifty day moving average price is $439.20 and its 200 day moving average price is $397.68. Group 1 Automotive has a 1 year low of $258.77 and a 1 year high of $490.09. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 13.11 and a beta of 1.36.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $10.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.77 by $1.25. Group 1 Automotive had a return on equity of 18.25% and a net margin of 2.47%. As a group, equities research analysts forecast that Group 1 Automotive will post 40.86 earnings per share for the current year.

Group 1 Automotive declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 9.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Lincoln Pereira sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the completion of the transaction, the director now owns 98,467 shares in the company, valued at $42,013,899.56. This represents a 5.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

A number of hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of Group 1 Automotive by 119.4% during the fourth quarter. Bessemer Group Inc. now owns 68 shares of the company’s stock worth $29,000 after purchasing an additional 37 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Group 1 Automotive in the fourth quarter valued at about $30,000. Assetmark Inc. lifted its stake in shares of Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after buying an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Group 1 Automotive during the third quarter worth about $36,000. Finally, Avior Wealth Management LLC purchased a new stake in Group 1 Automotive during the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.